Fedex 2Q Fails to Deliver, Shipper Misses on Top and Bottom Lines

Fedex reported second-quarter earnings that missed Wall Street's projection.
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Fedex (FDX) - Get Report reported second-quarter earnings of $2.80 a share, missing Wall Street's projection of $2.90. Revenue for the shipping giant came in at $14.9 billion compared with analysts' estimate of $14.92 billion. FedEx Ground average daily volume grew 5% in the second quarter, driven by ecommerce and commercial package growth. The company said the integration of TNT Express into the company is proceeding "smoothly and according to plan."